Business Bay

OVERVIEW

Dubai leaders long for a day when their city is considered to be the Business Capital of the Middle East. In order to make a dream a reality, they launched Business Bay project, costing $30 billion and with a vision of hosting thousands of businesses. The bottom line was to turn Business Bay into the “IT” spot for Middle Eastern business leaders.

Developers in Business Bay had the prototypes of the project in their minds – Manhattan or Ginza which are the business epicenters respectively of New York and Tokyo. Similarly, Business Bay is designed to bring more relevant impact and activity to the city as, e.g., Manhattan’s financial district does. And, with nearly 47 million square feet at their disposal, there’s certainly plenty of room for that to happen! As an added benefit, Business Bay is located between Sheikh Zayed Road and Al Khail Road. It’s a prime spot, just south of the already-vibrant Downtown Dubai.

The natural wonder doesn’t bypass the project, too. Being sited on the banks of historic Dubai Creek, its location becomes even more eminent, since this water miracle has played an irreplaceable role in Dubai’s history turning the city from a mere fishing and pearl diving center into something more- international port. All Business Bay needs, to live up to its potential, is high-quality tenants.

SUBPROJECTS

The area is home to more than 200 skyscrapers and other buildings that can house hotels, retail outlets, schools, medical facilities, and any other kind of commercial venture you can imagine. At full capacity, Business Bay can accommodate hundreds of thousands of business owners and their employees. Generally, around 22 percent of the whole territory is used on residential, 18 percent on commercial, and 59.4 on mixed purposes. Among the Business Bay projects are the Executive Bay, Nadra Tower, the Forum, Tamani Art Tower, the Citadel, etc.

In fact, some of the very first buildings finished in Business Bay were The Executive Towers. Located right at the entrance to Business Bay, The Executive Towers are home to both residents and business owners.

Right in the middle of things, you’ll find Bay Square – arguably the most peaceful part of Business Bay. That’s because this mixed-use community is closed to all vehicular traffic. Inside, pedestrians get to stroll along, choosing between countless restaurants, cafes, and stores. It’s the perfect place to go on your lunch break, relax after work, or spend a Saturday afternoon at Bay Square Hotel or Bay Square Residential Building.

Additionally, for business stakeholders Bay Square Commercial Building and Office Building can be of high interest.

If you have clients travelling in to meet you, they can even stay right in Business Bay! Right in the heart of the area, you’ll find the Business Bay Hotel – a five-star hotel that has a number of gourmet restaurants.

But it’s not all about work in Business Bay… You can even live here if you want to! While the area is focused more on commercial interests than residential ones, there are a number of residential towers inside that provide a calm oasis from all of the work – complete with landscaped gardens and canals. It’s all a part of turning Business Bay into a freehold city.

ENTERTAINMENT

After a successful business deal or long working day, it is time to visit all the nearby sights. Right 1 km away, there is the breath of Dubai’s arts community- The Pavilion, located at Emaar Boulevard, Downtown Dubai, not only provides an actual platform for Emirates residents, as well as international visitors, to discuss and evaluate any new artwork, but also here one can taste traditional food (and not only) at the cafes or restaurants of the Pavilion, watch indie and cult films, be a part of up-to-date workshops, Saturday night writing class for one, which is a floor for writers of every standard.

The longest dancing fountains of the world can be watched just 1.3 km away from Business Bay. Before the fountain was named, there was an intense competition between 4000 entries to win the AED 100.000 prize. Of course, The Dubai Fountain could have no other name but what it is now. The globe’s tallest fountain spurts water up to 150 m in the air ‘singing’ world-famous masterpieces, like Bocelli’s ‘Time to say Goodbye’. The touching performance of water is held three times a day, but the most impressive time is the evening, when the multi-colored water starts dancing. To watch this beauty closely there are abras at the visitors’ disposal- traditional wooden boats.

Dubai Mall is just 1.3 km from Business Bay. 1200 shops and 160 restaurants and cafes testify to only the following- you are in the world’s largest shopping mall. And this is not just a shopping place, it hosts a variety of attractions- Dubai Aquarium and Under Water Zoo, the world’s largest sweet shop Candylicious, Dubai Ice Rink, the Dubai Fountains, the indoor theme park SEGA Republic, etc.. On Dubai Mall’s doorstep there is another shopping area- Souk Al Bahar, where on Fridays exceptionally local goods or food may be found.

AMENITIES

If you are looking for ‘The Road to Happiness’, you should visit Al Khazzan Park, it is found under the blue and white water tower, on the grass-covered wall. Here you can find children’s large, colorful play areas, green roads to stroll around, even solar panels which operate the water in the park. The locals consider Al Khazzan as Safa Park alternative, since a noticeable greenery part of the latter is going to be sacrificed for the project connecting Dubai Creek with Jumeirah Beach.

Business Bay is a preferable project from educational point of you, as well. Since a number of institutions ranked among best twenty educational centers in Dubai are just some kilometers away from the Bay. The international Horizon school every week hosts around 500 children from 50 countries. Situted in Al Wasl, the Horizon is a private primary school following the English National Curriculum. Other institutions are Dubai Modern High School, located in Nad Al Sheba 3, also known as GEMS Modern Academy, Our Own Indian School (OOIS), in Al Quoz where students are provided with high educational standards per the CBSE syllabus.

The nearest two hospitals are Medcare Medical Center, located in Hadiqa street, just about 2.48 km away, and Dubai London Clinic about 2.21 km away.

Market Trends

Average property price in Business Bay for sale is 5.707.374 AED. Number of the total properties is 3.094, whereas average price/sq. ft. is 835 AED. Meanwhile, the average price for properties for rent doesn’t exceed 259.196 AED, the total number of properties is 2.280, and the average price/sq. ft. 115 AED.

Business Bay is, indeed, a city within a city. Providing prospective opportunities for business stakeholders and not only, it is a platform for everyone.